Two Dormant Bitcoin Wallets Move 416.7 BTC Worth $33.8 Million

Two Bitcoin (BTC) wallets that had not moved coins for 12 and 13 years transferred their entire holdings over the weekend, sending a combined 416.7 BTC worth about $33.8 million to one address.

Each wallet moved its full balance. Both transfers went to the same destination, ending more than a decade without coin movements from either wallet. The 12-year and 13-year periods refer to how long the coins had remained in their respective wallets before the weekend transfers.

When the coins first arrived, Bitcoin traded near $127 for one wallet and near $355 for the other. At those prices, the holdings had a combined value of about $105,000. The roughly $33.8 million figure reflects their estimated value when they moved over the weekend.

At that later valuation, the two balances were worth roughly 638 and 229 times their respective values when first received. Those multiples compare the coins’ estimated values at receipt and transfer. The transactions moved Bitcoin between addresses; the stated dollar amount describes the value of the coins moved.